Capitol Economics: The Philippines is unlikely to be significantly affected by a US trade agreement.

Gareth Leather, Senior Economist for Asia at Capital Economics, stated in a report that the impact of the US-Philippines trade agreement on the Philippine economy is expected to be limited. He pointed out that the US imposes a 19% tariff on imported goods, and considering that the Philippines' dependency on final demand from the US is relatively low among Asian countries, the trade agreement may have limited impact on the Philippine economy. However, he also noted that the agreement helps the Philippines avoid some downside risks, as the current tariff level is similar to that faced by other Asian countries. While the economic impact on the Philippines may not be significant, the agreement at least helps protect it from being eroded by regional competitors.